A building is seen destroyed following a reported 6.0 earthquake on August 24, 2014 in Napa, California. Justin Sullivan/Getty Images

A new proposal at L.A. City Hall says the cost of retrofitting buildings vulnerable to earthquakes should be a shared financial burden of tenants and property owners.

According to an L.A. Times article, Councilman Gil Cedello said the way costs ought to be shared required further review. Officials from the Los Angeles Housing Department recommend a cap for rent hikes at $38 a month for five or more years to cover the costs of retrofitting.

How do you think the cost should be handled among tenants and property owners?